Wolfe’s tax loss selling stocks within industrials, tech, materials

Wolfe Research put together a tax loss selling basket.

Here is part 1.

Typically, the biggest year-to-date losers underperform in a big way during the last months of the year, and with the Oct. 31 mutual fund year-end approaching, analysts expect tax loss selling to accelerate.

“Historically, avoiding the biggest year-to-date losers has been a positive alpha generating strategy heading into the last several months of the year,” wrote Chris Senyek, chief investment strategist, in a note. “The reason is that the market’s biggest laggards can be subject to selling pressures by investors looking to harvest capital losses and/or provide ‘window dressing’ for their annual reports.”

September, October and December are the most common for mutual funds.

The following stocks, divided by sector, are in Wolfe’s tax loss selling basket, part 2:

Industrials:

• Avis Budget Group Inc. (CAR) – Year-to-date price change: -53%; Price vs. 12-month volume-weighted average price: -32%
• Atkore Inc. (ATKR) – Year-to-date price change: -48%; Price vs. 12-month volume-weighted average price: -38%
• Concentrix (CNXC) – Year-to-date price change: -46%; Price vs. 12-month volume-weighted average price: -25%
• Clarivate Plc (CLVT) – Year-to-date price change: -29%; Price vs. 12-month volume-weighted average price: -6%
• Robert Half (RHI) – Year-to-date price change: -24%; Price vs. 12-month volume-weighted average price: -5%
• NexTracker (NXT) – Year-to-date price change: -22%; Price vs. 12-month volume-weighted average price: -22%
• American Airlines Group (AAL) – Year-to-date price change: -21%; Price vs. 12-month volume-weighted average price: -14%
• AGCO Corp. (AGCO) – Year-to-date price change: -21%; Price vs. 12-month volume-weighted average price: -9%
• Chart Industries (GTLS) – Year-to-date price change: -12%; Price vs. 12-month volume-weighted average price: -10%

Information technology:

• Wolfespeed (WOLF) – Year-to-date price change: -80%; Price vs. 12-month volume-weighted average price: -61%
• SolarEdge Tech (SEDG) – Year-to-date price change: -78%; Price vs. 12-month volume-weighted average price: -61%
• Five9 Inc. (FIVN) – Year-to-date price change: -64%; Price vs. 12-month volume-weighted average price: -47%
• Intel Corp. (INTC) – Year-to-date price change: -56%; Price vs. 12-month volume-weighted average price: -32%
• DoubleVerify Holdings (DV) – Year-to-date price change: -54%; Price vs. 12-month volume-weighted average price: -34%
• Freshworks Inc. (FRSH) – Year-to-date price change: -54%; Price vs. 12-month volume-weighted average price: -34%
• UiPath Inc. (PATH) – Year-to-date price change: -52%; Price vs. 12-month volume-weighted average price: -32%
• Unity Software (U) – Year-to-date price change: -49%; Price vs. 12-month volume-weighted average price: -18%
• Snowflake Inc. (SNOW) – Year-to-date price change: -44%; Price vs. 12-month volume-weighted average price: -28%
• Braze Inc. (BRZE) – Year-to-date price change: -42%; Price vs. 12-month volume-weighted average price: -30%
• Paycor HCM Inc. (PYCR) – Year-to-date price change: -37%; Price vs. 12-month volume-weighted average price: -16%
• Bill Holdings (BILL) – Year-to-date price change: -36%; Price vs. 12-month volume-weighted average price: -18%
• Qualys Inc. (QLYS) – Year-to-date price change: -36%; Price vs. 12-month volume-weighted average price: -21%
• GlobalFoundries Inc. (GFS) – Year-to-date price change: -36%; Price vs. 12-month volume-weighted average price: -24%
• EPAM Systems (EPAM) – Year-to-date price change: -34%; Price vs. 12-month volume-weighted average price: -15%
• IPG Photonics Corp. (IPGP) – Year-to-date price change: -33%; Price vs. 12-month volume-weighted average price: -17%
• Atlassian Corp. (TEAM) – Year-to-date price change: -33%; Price vs. 12-month volume-weighted average price: -14%
• Teradata Corp. (TDC) – Year-to-date price change: -32%; Price vs. 12-month volume-weighted average price: -20%
• Allegro MicroSystems (ALGM) – Year-to-date price change: -30%; Price vs. 12-month volume-weighted average price: -21%
• Lattice Semiconductor Corp. (LSCC) – Year-to-date price change: -25%; Price vs. 12-month volume-weighted average price: -16%
• Power Integrations Inc. (POWI) – Year-to-date price change: -24%; Price vs. 12-month volume-weighted average price: -13%
• Workiva Inc. (WK) – Year-to-date price change: -24%; Price vs. 12-month volume-weighted average price: -8%
• Zscaler Inc. (ZS) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: -12%
• GitLab Inc. (GTLB) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: -12%
• Paycom Software Inc. (PAYC) – Year-to-date price change: -19%; Price vs. 12-month volume-weighted average price: -5%
• Confluent Inc. (CFLT) – Year-to-date price change: -19%; Price vs. 12-month volume-weighted average price: -24%

Materials:

• The Chemours Co. (CC) – Year-to-date price change: -39%; Price vs. 12-month volume-weighted average price: -21%
• Cleveland Cliffs (CLF) – Year-to-date price change: -37%; Price vs. 12-month volume-weighted average price: -23%
• Albemarle Corp. (ALB) – Year-to-date price change: -35%; Price vs. 12-month volume-weighted average price: -18%
• The Mosaic Co. (MOS) – Year-to-date price change: -25%; Price vs. 12-month volume-weighted average price: -14%